Digital Issuance Expands for Credit Unions With Ondot Systems Announcement
The expectations from members to receive a digital credit or debit card has become more prevalent during the pandemic.
The Ondot Card App received a major upgrade this week with the addition of a new digital issuance feature for credit and debit cards.
According to the announcement, “digital issuance is one of the most requested features by both consumers and financial institutions.” Digital Issuance allows financial institutions to offer a digital version of a credit or debit card that credit union members and consumers can add to their mobile wallet, such as Apple Pay, before the physical card arrives.
“Available for both new cards and replacement of lost or stolen cards, the digital card is accepted anywhere you can pay with mobile wallets, and significantly increases card activation rates and early usage,” the company said in a statement.
“This is easily the number one capability requested by our financial institution clients,” Prasanna Narayan, Ondot’s vice president of product management, said. “Ondot has worked to deliver this in a way that seamlessly fit into issuers’ existing processes, so financial institutions can launch this quickly.”
Card App is a platform that enables credit unions to provide members with an easy and intuitive way to use and manage their digital credit and debit cards.
This news follows the announcement by Visa and MasterCard last month as both companies are making new investments into digital issuance because fewer people are going into physical branches during the pandemic.